News Corp shares closed high ahead of Leveson report
City Index November 29, 2012 5:15 PM
<p>Shares in News Corp closed higher on the Nasdaq yesterday, but how will they react when the Leveson report is delivered?</p>
Shares in News Corp closed higher in New York yesterday (November 29th) on the eve of Lord Justice Leveson's much-anticipated report into press standards.
The Murdoch family-run media conglomerate is one of the companies that was scrutised throughout the inquiry, which highlighted misconduct and ethically-questionable practices that had been carried out across the industry.
Later today, Lord Leveson is set to deliver his report into the future of press regulation, 16 months after the public inquiry was launched.
It is likely to be a landmark event for the media, police and politics and the matter has divided the coalition government.
Leveson's report will make recommendations on reforming regulations and whether the sector needs a more robust system of "self regulation".
On the technology-heavy Nasdaq at close of play last night, News Corp Class A shares were up by 1.8 per cent to $24.37 per unit, approaching their 52-week high of $25.42.
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